Yearly Archives: 2012

Chained CPI: Diet COLA for Social Security

"Before we discuss the nuances of the different measures of the CPI, it is important to keep in mind that millions of Americans rely on Social Security benefits for income protection. In fact, 65% of all beneficiaries rely on Social Security to provide 50% or more of their incomes, while 36% rely on benefits for 90% or more of their incomes. For non-married beneficiaries, including widows, the reliance is higher with 74% relying on benefits for 50% or more of their incomes and 46% relying for 90% or more of their incomes." Continue reading →

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Georgia rebuilds Stalin monuments

"A Joseph Stalin statue went back up in the Georgian village of Alvani on Friday in a sign of the slipping authority of President Mikheil Saakashvili, who had ordered its removal. The pro-Western president is serving out what some are calling a lame-duck term ahead of elections next year from which he is barred on account of the end of his 10-year constitutional mandate. Saakashvili, whose forces fought a five-day war with Russia in 2008 and who has always sought to ally Georgia with the United States, had spearheaded a furious de-Stalinisation campaign." Continue reading →

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While Much of America Suffers with Stagnation, Washington’s Political Class Is Having a Very Merry Christmas

"In the town that launched the War on Poverty 48 years ago, the poor are getting poorer despite the government’s help. And the rich are getting richer because of it. The top 5 percent of households in Washington, D.C., made more than $500,000 on average last year, while the bottom 20 percent earned less than $9,500 – a ratio of 54 to 1. That gap is up from 39 to 1 two decades ago. It’s wider than in any of the 50 states and all but two major cities." Continue reading →

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Why You Might Only Be Able to Get Part-Time Work in 2013

"Here is what I am doing for the rest of the year -- working with every manager in my company so that as of January 1, 2013, none of our employees are working more than 28 hours a week. We have got to get our company under 50 full time employees or else I am facing a bill from Obamacare in 2014 that will be several times larger than my annual profit. I love my workers. They make me a success. But most of my competitors are small businesses that are exempt from the Obamacare hammer. To compete, I must make sure my company is exempt as well. This means that our 400+ full time employees will have to be less than 50 in 2013." Continue reading →

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New Taxes to Take Effect to Fund Health Care Law

"Among the most affluent fifth of households, those affected will see tax increases averaging $6,000 next year, economists estimate. The law does not provide for the money to be deposited in a specific trust fund. It is added to the government’s general tax revenues and can be used for education, law enforcement, farm subsidies or other purposes. Under another provision of the health care law, consumers may find it more difficult to obtain a tax break for unreimbursed medical expenses. In addition, workers face a new $2,500 limit on the amount they can contribute to flexible spending accounts used to pay medical expenses." Continue reading →

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Men Find Careers in Collecting Disability

"In 1960, some 455,000 workers were receiving disability payments. In 2011, the number was 8,600,000. In 1960, the percentage of the economically active 18-to-64 population receiving disability benefits was 0.65 percent. In 2010, it was 5.6 percent. Things have changed. Americans have grown healthier, and significantly lower numbers die before 65 than was the case a half-century ago. Nevertheless, the disability rolls have ballooned. Eberstadt points out that in 1960, only one-fifth of disability benefits went to those with 'mood disorders' and 'muscoskeletal' problems. In 2011, nearly half of those on disability voiced such complaints." Continue reading →

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Why the Poles keep coming: The British welfare trap

"If I was in a position of a British single mother I have not the slightest doubt that I would choose welfare. Why break your back on the minimum wage for longer than you have to, if it doesn’t pay? Some people do have the resolve to do it. I know I wouldn’t. Until our policymakers start to see things through the eyes of those ensnared in welfare traps, nothing will change. The Poles are not caught in this welfare trap. For then, the work premium is far higher. If you had designed a system to keep the poor down, in would not look much different to the above." Continue reading →

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In France’s Welfare State Status Quo, Are We Seeing America’s Future?

"In 2009, 11.2 million French persons received welfare payments, out a total population of 65.3 million. This amounted to $78 billion in payments. Moreover, these 11 million beneficiaries have families (parents, spouses, children); thus, more than 35 million people are actually benefiting directly or indirectly from welfare payments, which is more than 50 percent of the French population. If this rate were applied to America, about 157 million Americans would be relying on welfare. Owing to the amount of money poured into welfare, should it be expected that there is a 'social return on investment' and that the living conditions of French citizens are improving?" Continue reading →

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France Taxes America: The Robin Hood Tax

"As predicted, France has passed the world’s first Robin Hood Tax — a levy of two-tenths of one percent on all French share transactions, purchases or sales — even when they are bought or sold by Americans. The new tax is expected to raise E500 million annually, a portion of which French President Francois Hollande has committed to give to fight global poverty and HIV-AIDS. The French tax is a precursor for more ambitious Financial Transactions Tax that nine European countries plan on implementing as early as December of this year. The broader tax would apply 'not just to shares, but to bond and derivative transactions' and is supposed to raise E34 billion." Continue reading →

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France’s Jean-Marc Ayrault slams flight of the ‘greedy rich’

"These individuals are leaving 'because they want to get even richer,' he said. 'We cannot fight poverty if those with the most, and sometimes with a lot, do not show solidarity and a bit of generosity,' he added. Announcing plans to spend up to 2.5 billion euros by 2017 to help the poor, Mr Ayrault said that poverty affected 12.9 percent of the population in 2002 and rose to 14.1 percent in 2010. Mr Hollande has since introduced other hefty new charges on capital gains and inheritance, while increasing France's wealth tax and an exit tax for entrepreneurs selling their companies." Continue reading →

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